Blockchain

Google Taps a Start-Up Smart Contract Project As Its Blockchain Partner

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According to the latest reports doing the rounds since yesterday, the technology giant Google is tapping a start-up smart contract project called Chainlink as its blockchain partner. The move depicts a deep interest by the company into the technology of blockchain. In fact, it is one of the very few blockchain projects that the company has chosen to associate itself with.

In order to divulge more details about the partnership, Google also published an official blog post on 13th June 2019. The blog states that the company intends to utilize the Chainlink oracle smart contract for placing the BigQuery data, Google’s solution for business intelligence and data warehousing, on the blockchain.

Chainlink and SmartContract.com were founded by Steve Ellis and Sergey Nazarov to develop a medium between blockchain systems and the conventional data sources. For that, they have collaborated with Oracle and SWIFT. Nazarov in his statement said that they are striving to build a next generation of the smart contracts which are capable of going beyond tokenization as well as finding their utility based on the interactions with IoT events, market events, and a variety of use cases.

Sharing some insights, Google’s Developer Advocate Allen Day said that smart contract apps (Ethereum Dapps) request Chainlink data at the high level that in turn will be retrieved from the web services built with Google’s BigQuery and App Engine. The Chainlink nodes listen for such calls and execute the job requested upon observation. Thanks to the service-oriented elements, the external adapters will extend Chainlink nodes’ capabilities to verified payment gateways, APIs, as well as external blockchains. Thus, the nodes of Chainlink will find themselves interacting with web services of App Engine that are built for a purpose.

To put it simply, the products of Google will now be able to connect with decentralized apps, much like how a client-side application communicates with a normal database server. In such a case, Chainlink will act as a data connecting link.

The collaboration will open a host of exciting opportunities for Ethereum-based smart contracts, for instance, added privacy on the Ethereum transactions.


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Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing

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David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports on July 16, Marcus delivered his comments at the ongoing hearing on Facebook’s Libra with the Banking Committee of the U.S. Senate.

Addressing the issues of money laundering and terrorism financing, Senator Cortez Mastro asked Marcus how Facebook is going to ensure that the platform is not being used for such purposes. Marcus responded that “this is something that I care about deeply, personally.” Marcus added that the company will have an Anti-Money Laundering program, reiterating Facebook’s commitment to FinCEN.

Marcus stated that “Calibra will be affordable and accessible and also safe and secure” and will comply with FinCEN and state regulation. According to Marcus, Libra Corporation will still register with FinCEN despite the…



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Altcoin

R3 to Support a Startup-Focused Stock Exchange in Brazil

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Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms.

Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16.

The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes.

Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019.

Banco Maré CEO Alexander Albuquerque claimed that the new venture aims to democratize risky investment and bring the low-income public to the stock market.

Earlier in June, Cointelegraph reported that the…



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Altcoin

Is There a Future for Privacy Coins in the United States? » The Merkle Hash

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Cryptocurrencies which provides users with privacy and anonymity are often looked down upon by politicians and other officials. Especially in the US, privacy coins such as Monero and ZCash might face an uphill battle in the future. The most recent White House press conference only confirms these currencies are designed for criminals and no one else. 

The Stigmas Remain

For quite some time now, the term “privacy coins” is associated with illegal activity on the internet and in the real world. This is primarily because of the privacy and anonymity features these currencies tend to provide to its users. In the case of Monero, for example, it is impossible to determine who owns how many coins, or who is sending and receiving transactions. This makes it a thorn in the side of government officials and financial experts, as they only see the negative side of this…



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Bitcoin

‘I like bitcoin,’ says House GOP leader McCarthy, hits Facebook Libra

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House Minority Leader Kevin McCarthy told CNBC on Tuesday that he likes the decentralized nature and the security of bitcoin.

“I like bitcoin” and the security of the blockchain ledger technology behind cryptocurrencies, the California Republican said, as he criticized Facebook’s plans for a Libra digital coin ahead of hearings on Capitol Hill this week.

Libra will be pegged to a basket of government-backed money, compared with bitcoin, which is highly volatile in price and derives value from factors including its ability to enable instantaneous, anonymous, global payments and as an investment.

Nobody controls bitcoin.

McCarthy did, however, say that bitcoin is not where it needs to be yet, alluding to the risks of cryptocurrencies being used by criminals and money launderers.

While Libra promises more stability, McCarthy remains concerned.

“When I’m on Facebook, I’m not the customer, I’m the product,” he said. “Facebook is free because…



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Ethereum

Waves CEO Sells His Stake in Blockchain Spin-Off Vostok

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Founder of token issuance platform Waves has fully sold his stake in the firm’s blockchain spin-off Vostok to focus on the Waves Platform.

Alexander Ivanov, CEO and founder of Waves, sold his stake in the Vostok, with global financial group GHP Group becoming the sole owner of the project, according to a press release on July 16.

Ivanov said that he decided to sell the Vostok project in order to focus the resources on the development of the Web3 ecosystem within the Waves Platform.

Mark Garber, Chairman of the Board of Directors of GHP Group and one of the early Vostok investors, said that the existing progress in the project will help GHP Group’s to increase its level of technological expertise. 

The well-known entrepreneur in the Russian investment community noted that GHP Group will continue to build the project while the firm also plans to integrate the Vostok’s technology…



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